The Santa Claus rally came early this year with the Dow vaulting 421 points to 17,778 after the Federal Reserve indicated yesterday that rates would remain low for a considerable time. Nasdaq rocketed 104 points to 4,748.
On the upside
Wedbush Securities upgraded OvaScience (Nasdaq: OVAS) from a Neutral rating to an Outperform rating and raised its price target from $22 to $47.
Tetraphase Pharmaceuticals (Nasdaq: TTPH) reported upbeat results from a Phase 3 IGNITE 1 clinical trial of eravacycline to treat complicated intra-abdominal infection.
On the downside
RBC Capital Markets downgraded Mid-Con Energy Partners (Nasdaq: MCEP) from an Outperform rating to a Sector Perform rating.
Investor locked in profits on Linn Energy (Nasdaq: LINE).
In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The broader S&P 500 jumped 48 points to 2061. Bitcoin fell $9 to $311.